personal bank account

[rockin]

I successfully closed a bank account I had in Massachusetts in May. When I closed the account, the teller had me write a check to myself for cash for the balance of the checking account. In June, I received a statement, and a demand for an amount past due. As it turns out, the amount the teller told me was the AMOUNT REMAINING IN MY RESERVE CREDIT, and I actually owed the bank money [had a negative balance], and should have paid them to close the account instead of getting money back when it closed. The money that I received because of the teller's error is long spent.
The bank now wants me to pay past due charges, interest, and late charges for their mistake. Obviously, I should not have to pay late charges and penalties for their mistake. What does the law state around repaying the money?
I currently live in California - does that have any impact?

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by rockin:
I successfully closed a bank account I had in Massachusetts in May. When I closed the account, the teller had me write a check to myself for cash for the balance of the checking account. In June, I received a statement, and a demand for an amount past due. As it turns out, the amount the teller told me was the AMOUNT REMAINING IN MY RESERVE CREDIT, and I actually owed the bank money [had a negative balance], and should have paid them to close the account instead of getting money back when it closed. The money that I received because of the teller's error is long spent.
The bank now wants me to pay past due charges, interest, and late charges for their mistake. Obviously, I should not have to pay late charges and penalties for their mistake. What does the law state around repaying the money?
I currently live in California - does that have any impact?<HR></BLOCKQUOTE>

Agree to pay the principal and negotiate with the bank manager to installment payments and to waive or discount the LF and penalties. Hey, the bank gave you a loan without even doing a credit check. You know that the money was not yours.